Morgan Stanley increased its position in shares of Cass Information Systems (NASDAQ:CASS) by 143.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 97,714 shares of the business services provider’s stock after buying an additional 57,608 shares during the quarter. Morgan Stanley owned about 0.80% of Cass Information Systems worth $6,364,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in CASS. Commerce Bank acquired a new stake in Cass Information Systems in the 3rd quarter valued at approximately $3,013,000. WCM Investment Management CA raised its holdings in shares of Cass Information Systems by 31.2% in the third quarter. WCM Investment Management CA now owns 152,024 shares of the business services provider’s stock valued at $9,900,000 after buying an additional 36,180 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Cass Information Systems by 41.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 46,355 shares of the business services provider’s stock valued at $3,019,000 after buying an additional 13,611 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Cass Information Systems by 149.5% in the third quarter. Victory Capital Management Inc. now owns 17,929 shares of the business services provider’s stock valued at $1,168,000 after buying an additional 10,743 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Cass Information Systems by 11.4% during the third quarter. Renaissance Technologies LLC now owns 92,658 shares of the business services provider’s stock worth $6,034,000 after purchasing an additional 9,501 shares in the last quarter. 49.02% of the stock is currently owned by hedge funds and other institutional investors.
In other news, COO Gary B. Langfitt sold 850 shares of Cass Information Systems stock in a transaction dated Friday, December 14th. The shares were sold at an average price of $55.00, for a total value of $46,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.91% of the stock is owned by company insiders.
Shares of CASS opened at $53.87 on Wednesday. The company has a market cap of $787.50 million, a P/E ratio of 26.44 and a beta of 0.49. Cass Information Systems has a 1 year low of $46.94 and a 1 year high of $62.07.
Cass Information Systems (NASDAQ:CASS) last posted its quarterly earnings results on Thursday, January 31st. The business services provider reported $0.47 earnings per share for the quarter. Cass Information Systems had a net margin of 20.42% and a return on equity of 13.39%. The company had revenue of $38.30 million for the quarter.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Tuesday, March 5th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Monday, March 4th.
Cass Information Systems Company Profile
Cass Information Systems, Inc provides payment and information processing services to manufacturing, distribution, and retail enterprises in the United States. It operates through two segments, Information Services and Banking Services. The company's services include freight invoice rating, payment processing, auditing, and the generation of accounting and transportation information.
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